Longeveron (NASDAQ: LGVN), a clinical-stage biotechnology company developing regenerative medicines for unmet medical needs, has released a letter to shareholders outlining its strategy and noting its clinical pipeline and this year’s priorities and goals.
According to the letter from Longeveron CEO Wa’el Hashad, the last year has been focused on develop a strategic roadmap built on the strength of the company’s science while acknowledging the realities of the capital market environment. Longeveron’s foundation in cutting-edge cellular therapy research combined with the potential offered by Lomecel-B(TM) have positioned the company to “profoundly impact patients’ lives for the better by addressing numerous unmet medical needs with U.S. market potential opportunities of up to approximately $10–$18 billion.”
Hashad noted that the current focus of the company is to raise the funds needed to continue operations and deliver transformative solutions to patients and sustainable value to shareholders. The letter explained that the company is targeting two promising programs: hypoplastic left heart syndrome (“HLHS”) and Alzheimer’s disease. Hashad observed that the company is taking specific steps to effectively manage expenses and reduce ongoing costs.
“Longeveron has achieved significant operational and strategic advancements over the past 12 months, delivering promising results for conditions that profoundly impact patients and caregivers,” said Longeveron CEO Wa’el Hashad in the press release. “With Lomecel-B ’s documented safety profile in clinical trials in vulnerable populations and its effects assessed in nearly 500 patients across various indications, we are optimistic about the potential for our drug candidate. We remain committed to executing against our strategic and operational goals with speed, quality and efficiency. By leveraging our available resources wisely and improving our balance sheet, we are focused on bringing Lomecel-B to market to address the needs of patients suffering from these devastating conditions.”
To view the full press release, visit https://ibn.fm/UnYtt
About Longeveron Inc.
Longeveron is a clinical-stage, biotechnology company developing regenerative medicines to address unmet medical needs. The company’s lead investigational product is Lomecel-B(TM), an allogeneic mesenchymal stem cell (“MSC”) formulation sourced from the bone marrow of young, healthy adult donors. Lomecel-B has multiple potential mechanisms of action that promote tissue repair and healing with broad potential applications across a spectrum of disease areas. The underlying mechanism(s) of action that may lead to the tissue repair programs include the stimulation of new blood vessel formation, modulation of the immune system, reduction in tissue fibrosis, and the stimulation of endogenous cells to divide and increase the numbers of certain specialized cells in the body. Longeveron is currently pursuing three pipeline indications: Hypoplastic Left Heart Syndrome, Alzheimer’s disease, and Aging-related Frailty. To learn more about the company, visit www.Longeveron.com.
NOTE TO INVESTORS: The latest news and updates relating to LGVN are available in the company’s newsroom at https://ibn.fm/LGVN
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